Post-Brexit foreign direct investment in the north skyrockets 72 per cent September 26, 2022 Post-Brexit foreign direct investment in the ‘northern powerhouse’ has skyrocketed by 72 per cent compared to the rest of the UK, a new report has shown. Investment in the north rose from £24bn between 2012-16 to £41bn after Britain left the European Union, from 2017-21. The findings, by the Northern Powerhouse Partnership, also found the [...]
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Exclusive: Northzone partner says London is still top of investor wishlist September 23, 2022 London is still at the top of European investors’ wishlists according to global tech VC investor Northzone. Having recently raised €1bn in its largest funding round to date, Northzone partner Kilian Pender reckons businesses are still betting big on the City. “While it’s hard to tell what impact economic downturns are going to have on the [...]
Jupiter to sell £100m stake in Starling Bank at steep discount on April valuation September 22, 2022 FTSE 250 asset manager Jupiter is in advanced talks to sell a £100m stake in Starling Bank at a heavy discount on its most recent valuation of £2.5bn. Jupiter Fund Management is in talks with several of the challenger bank’s existing investors, with a view to offloading a seven per cent share in the firm, [...]
Govt sets up two-phase approach to make City ‘most competitive place for financial services’ September 22, 2022 The UK Government has set-up a two-phase approach for Canada in a bid to make the capital “the most competitive place for financial services in the world.” Chancellor Kwasi Kwarteng will unveil an initial set of reforms in his fiscal statement tomorrow, while presenting a more comprehensive package later this autumn. Government [...]
Link faces £50m fine over Woodford fund’s collapse September 21, 2022 The UK firm that managed Neil Woodford’s flagship investment fund is facing a £50m fine over its running of the fund before its collapse in 2019. The UK’s Financial Conduct Authority (FCA) has issued a draft warning notice against Link Fund Solutions Ltd (LFS) indicating it could be forced to pay £306m in costs and [...]
Value of private equity-backed ‘carve outs’ triples due to Covid and war in Ukraine September 20, 2022 The value of private equity-backed “carve out” deals, through which funds buy up an entire business line, subsidiary, or unit, has more than tripled over the past year. The value of carve out acquisitions by private equity funds jumped threefold from £3.8bn last year to £13.4bn in the year running up to 31 August 2022, [...]
Weekend exclusive: Challenger banks stifled by excessive regulation, warns OakNorth chief September 17, 2022 UK challenger banks are being bogged down by a need to jump through the same regulatory hoops as their larger high street rivals, the chief of digital lender OakNorth said today.
